GEM 2022/2023 LITHUANIA NATIONAL REPORT: A Story of Confidence

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  • Year of publication: 2022
  • Category: National Reports
  • Language: English
  • Upload date: 2024-07-30

The overall assessment of the entrepreneurial ecosystem places Lithuania among the leaders, ranking it sixth in 2022 globally. Lithuania's exceptional response to the pandemic's economic impacts earned us the highest score among all GEM participants’ economies. In Lithuania, entrepreneurial self-confidence and knowledge have surged over the last 10 years, with overall capabilities increasing from 43% to over 58% and a significant rise from 24% to over 41% among both men and women. Key findings in 2022 include the high activity of the 25-34 age group in business, with nearly half of entrepreneurs motivated by a desire to make a difference. Additionally, 36.5% of respondents perceived starting a business to be easy, and both early and experienced entrepreneurs consider environmental and social factors in their decisions. Notably, 20% plan to start a business, highlighting the supportive entrepreneurial environment that many wealthier economies would envy.

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